Property companies led the parade as the top 100 Hong Kong-listed companies of 2015 were announced Tuesday night. The rankings are an important reference tool to help investors spot the value of Hong Kong stocks. The mainland’s property sector performed well in 2015 despite significant volatility while the Hong Kong market still faces big challenges. Experts say the situation may improve this year. 

2015 was a turbulent year for the Hong Kong stock market, but these companies stood the test. Among the top 100 Hong Kong listed companies, the ones based in mainland China constitute a high proportion. The property sector performed particularly well while China’s state-owned commercial banks were overshadowed after topping the list in 2014.

The organizers say the top-ranking companies outperformed the Hang Seng Index, which fell 7.2 percent in 2015. Many analysts believe the market can rebound this year.

The Shenzhen-Hong Kong stock connect will be launched this year. That follows a similar connect between Shanghai and Hong Kong stock in 2014. The launch is expected to bring energy to the market.

Experts say such factors as the likely inclusion of A-shares into the MSCI, and debt-to-equity swaps may make certain sectors outperform at different times. Investors can constantly switch bets among different stocks.

Market participants have mixed reactions to Hong Kong stocks this year. Optimists believe there are positive signs of recovery, while pessimists say uncertainties still linger. Analysts say investors should take a more neutral view to reduce their portfolio volatility.